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<br />PRELIMINARY DRt\FT <br />FOR REVIEW ONLY <br />DATE:_L:3.L= OJ. <br /> <br />Dedication General Warranty Deed <br /> <br />Date: February <br /> <br />,2001 <br /> <br />Grantor: LOWMAN RANCH, LTD., a Texas Limited Partnership <br /> <br />Grantor's Mailing Address: 3603 Hunter Road, San Marcos, Hays County, Texas 78666 <br /> <br />Grantee: CITY OF SAN MARCOS <br /> <br />Grantee's Mailing Address: City Hall, 630 East Hopkins, San Marcos, Hays County, Texas <br />78666 <br /> <br />Consideration: The terms and conditions of Mediation Agreement dated , <br />2001, between Grantor, Grantee, Stanley K. Tanger, and Tanger Properties Limited Partnership <br /> <br />Property (including any improvements): <br /> <br />acres of land more particularly described in Exhibit" A" attached hereto <br />and incorporated by reference herein. <br /> <br />Reservations from and Exceptions to Conveyance and Warranty: <br /> <br />The Property is being conveyed and Grantor's warranty is subject to all easements, restrictions, <br />reservations, and exceptions of record in Hays County, Texas. <br /> <br />The Property is also conveyed subject to the restriction that it shall be used exclusively as a park <br />for the Citizens of San Marcos and Hays County, Texas. This restriction shall be a covenant <br />running with the land and shall be enforceable by Grantor, its successors and assigns. <br /> <br />Pursuant to the Mediation Agreement, Grantor reserves the right for an indefinite time in the <br />future to construct a road across the Property that will run in a generally northeast to southwest <br />direction. The roadway will be built to City standards, and its exact location will be determined <br />when Grantor develops property it owns adjacent to the Property. <br /> <br />Grantor, for the Consideration and subject to the Reservations from and Exceptions to <br />Conveyance and Warranty, and the aforesaid restrictions, grants, sells, and conveys to Grantee <br />the Property, together with all and singular the rights and appurtenances thereto in any wise <br />belonging, to have and hold it to Grantee, Grantee's successors or assigns forever. Grantor binds <br />Grantor and Grantor's heirs, executors, administrators, successors, and assigns to warrant and <br />forever defend all and singular the Property to Grantee and Grantee I s successors and assigns <br /> <br />Litigate\Lowman\ Warranty Deed <br /> <br />-1- <br /> <br />00102/01 <br />